BlackRock Files New Tokenized Treasury Fund with SEC

• According to the latest filing, BlackRock is preparing to launch a new tokenized fund called BlackRock Daily Reinvestment Stablecoin Reserve Vehicle.
• The biggest asset management company will use Securitize’s infrastructure to issue a tokenized fund.
• The filing comes after the success of BUIDL, which currently holds $2.3 billion in AUM.

On May 12, BlackRock, the world’s biggest asset management company, revealed that it has submitted a filing to the U.S. Securities and Exchange Commission (SEC) for a new tokenized fund. The biggest asset management company is once again partnering with Securitize as its blockchain infrastructure partner.

The announcement comes after BlackRock witnessed the impressive success of its first tokenized fund, BUIDL. The reason behind the success of this tokenized fund is the growing demand for it among institutional investors.

Details of BlackRock’s New Tokenized Fund

According to the official filing, the new tokenized fund will be named the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, and it will use the ticker of BRSRV. This new tokenized fund will invest in cash, short-term United States Treasury securities with maturities of 93 days or less, and others. It will also invest in repurchase agreements, which are backed by Treasuries.

The main feature of this tokenized fund is its capability to offer on-chain shares. It will be issued through a permissioned framework on various public blockchains. This tokenized fund will use blockchain-based ownership records that are integrated with regulated transfer agency systems.

For this tokenized fund, Securitize Transfer Agent LLC will work as the official transfer agent. It will integrate on-chain records with off-chain investor identity verification in order to comply with regulations. According to the official filing, the minimum limit will be around $3 million. It means that the fund is expected to attract institutional investors. 

Apart from this, BlackRock has also filed a tokenized share class to its existing BlackRock Select Treasury-Based Liquidity Fund, which is currently holding around $6 million to $7 million in assets. This new class will work along with traditional shares, and it will be mainly available on the Ethereum network using ERC 20 standards. BNY Mellon will hold shareholder records for this new development.

This new hybrid model will open the door for easy integration between old and new systems.

BlackRock Launches New Fund After Success of BUIDL

The filing for a new tokenized fund comes after the success of its BUIDL fund, which is a short form of the BlackRock USD Institutional Digital Liquidity Fund. It was launched in 2024 after the partnership with Securitize.

According to the official data, BUIDL is currently holding up approximately $2.5 billion in assets under management. This tokenized fund became a popular investment vehicle for investors as it provides daily dividend reinvestments. As of now, it has paid out more than $100 million in dividends.

The success of BUIDL is showing that there is a strong demand for tokenized Treasury products. Many institutions and crypto protocols, such as Ethena, are using the fund to get yield-bearing. It is also providing liquidity and working as collateral for trading.

The overall tokenized real-world assets market has witnessed a sharp growth as it has crossed $30 billion in total value. In this total tokenized RWA market, the tokenized United States Treasuries surpassed the mark of around $14 billion. In recent times, the RWA market has witnessed a year-over-year growth of more than 200%.

BlackRock is not only a player in the tokenized sector, but Bitwise Asset Management also announced that it is planning to take over its first-ever tokenized fund in partnership with Superstate, which is known as the Bitwise Crypto Carry Fund. This fund is currently holding around $277 billion in assets. This fund will capture yield from crypto cash and carry trades.

There are many other major players like Apollo, KKR, Franklin Templeton, and VanEck, which are actively working in the tokenization sector. Securitize is currently managing more than $4 billion in tokenized assets through partnerships with many big institutions. 

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